Avitas Wealth Management LLC Takes $839,000 Position in Alibaba Group Holding Limited (NYSE:BABA)

Avitas Wealth Management LLC purchased a new position in Alibaba Group Holding Limited (NYSE:BABA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,892 shares of the specialty retailer’s stock, valued at approximately $839,000.

Several other institutional investors have also bought and sold shares of BABA. Redwood Wealth Management Group LLC raised its stake in shares of Alibaba Group by 11.0% in the fourth quarter. Redwood Wealth Management Group LLC now owns 11,450 shares of the specialty retailer’s stock valued at $971,000 after buying an additional 1,134 shares during the period. Helios Capital Management PTE. Ltd. increased its holdings in Alibaba Group by 14.0% in the 4th quarter. Helios Capital Management PTE. Ltd. now owns 45,600 shares of the specialty retailer’s stock worth $3,866,000 after acquiring an additional 5,600 shares during the last quarter. Tandem Capital Management Corp ADV raised its stake in Alibaba Group by 2.1% in the 4th quarter. Tandem Capital Management Corp ADV now owns 25,798 shares of the specialty retailer’s stock valued at $2,187,000 after acquiring an additional 530 shares during the period. Calamos Wealth Management LLC lifted its holdings in Alibaba Group by 6.5% during the fourth quarter. Calamos Wealth Management LLC now owns 18,342 shares of the specialty retailer’s stock valued at $1,555,000 after purchasing an additional 1,124 shares during the last quarter. Finally, Calamos Advisors LLC boosted its position in Alibaba Group by 5.3% during the fourth quarter. Calamos Advisors LLC now owns 46,637 shares of the specialty retailer’s stock worth $3,954,000 after purchasing an additional 2,350 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Up 3.8 %

BABA stock opened at $102.37 on Wednesday. The company’s 50 day moving average is $86.84 and its 200 day moving average is $89.07. The stock has a market cap of $243.52 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 0.42 and a beta of 0.31. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. Alibaba Group Holding Limited has a 1-year low of $68.36 and a 1-year high of $117.82.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts predict that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Analyst Ratings Changes

BABA has been the topic of several research reports. StockNews.com lowered shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Benchmark restated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Robert W. Baird raised their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Mizuho boosted their price objective on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Barclays cut their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average price target of $115.13.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.